Frasers Property (Thailand) Public Company Limited, or "FPT" announced that for the first half of FY2025 (October 2024 - March 2025), the company generated revenue of THB 6,298 million with a net profit of THB 550 million. The residential business is set to launch four new high-end projects in Bangkok and provincial areas. Factory and warehouse demand is consistently strong, resulting in all-time high occupancy rates. Meanwhile, the commercial office sector may expect increased tenant interest in high-quality Grade A CBD office space following the recent earthquake.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer of FPT, stated, "FPT maintained strong growth for its first half results of FY2025 (October 2024 - March 2025) through its diversified portfolio of both sales-based and recurring income businesses, coupled with efficient portfolio management. This is despite facing economic challenges such as high household debt, weak consumer purchasing power, and slowing industrial production."
Compared to the same period last year, FPT reported a 4.4% decrease in revenue to THB 6,298 million, while net profit rose 12.9% to THB 550 million.
For the second quarter of FY2025 (January - March 2025), the company generated revenue of THB 3,030 million, comprising THB 1,754 million from real estate sales, THB 836 million from rental and service income, and THB 440 million from other income, resulting in a net profit of THB 221 million.
The Residential Business launched two new projects with a combined value of THB 3,450 million: Klos Ramintra-Fashion condominium and Gramour Sathorn luxury housing project. The company demonstrated leadership in real estate with the Grand Riverfront Ratchapruek-Rama 5 project, the first housing development in Thailand and Southeast Asia to receive LEED Gold green building certification. For the second half of FY2025 (April - September 2025), the company plans to launch four additional projects comprising single houses and townhomes in Bangkok, Nakhon Ratchasima, and Khon Kaen, with a total value exceeding THB 6,300 million. This expansion aligns with the anticipated rise in purchasing power driven by relaxed housing loan regulations and lowered property transfer and mortgage registration fees.
The Industrial Business continues to benefit from foreign investors relocating production facilities to Southeast Asia, particularly Thailand, Indonesia, and Vietnam, driving average occupancy rates both domestically and internationally to an all-time high of 90%. In the second quarter of FY2025 (January - March 2025), the company closed a deal and began construction on Watsons Thailand's largest distribution centre, spanning over 25,000 sqm to support deliveries to more than 750 stores nationwide. The project is located at Frasers Property Logistics Center (Bangplee 4) in Samut Prakan province. Additionally, the company delivered the Big C Supercenter's largest distribution hub, spanning 89,000 sqm in Bang Pa-In District, Ayutthaya Province, as well as a warehouse facility of over 30,000 sqm at BDIP Premium Industrial Park in Vietnam to an e-commerce industry client.
The Commercial Business maintained high occupancy rates of 91% for Grade A office buildings and retail spaces. Following the Myanmar earthquake that affected Thailand in late March, all buildings under the company's management, designed to withstand seismic activity, have completed their safety reviews and suffered no structural damage. This event may encourage tenants to consider relocating to higher-quality Grade A office buildings with superior construction standards and safety protocols, potentially increasing demand for Grade A offices in CBD areas.